Staff Report #10 – Financial Update – Capital Budget Programs – October 31, 2020

Staff Report #10

November 25, 2020

To All Commissioners

Re: Financial Update – Capital Budget Programs – October 31, 2020

Recommendation

That the report be NOTED and FILED.

Background

Summarized in the table below is the 2020 Capital Program Summary for the ten-month period ending October 31, 2020.

Summary of 2020 Capital Budget Program Activity Ten Months Ending October 31, 2020

Description  Actual  Budget Amount Under Budget (Over Budget)
Program
Stop Upgrades $ –  $ 440,700  $ 440,700
Service Fleet 98,773 130,000 31,227
Shop Equipment 223,082 236,200 13,118
Software and Hardware 61,091 700,000 638,909
Facility Upgrades 91,587 560,600 469,013
Bus Replacement (16) 9,359,407 9,488,000 128,593
Bus Expansion
Bus Stop Amenities 550,000 550,000
Operator Barriers 1,427,128 1,468,900 41,772
Fleet Radio Replacement 625,000 625,000
TMP 2030 – BRT Strategy 1,500,000 1,500,000
Fare Processing Equipment 1,995,000 1,995,000
Smart Card Program 29,846 325,000 295,154
Total $ 11,290,914  $ 18,019,400  $ 6,728,486
Funding
Provincial Gas Tax $ 1,655,554 $ 5,349,300  $ 3,693,746
Capital Program Reserve 382,945 1,296,900 913,955
City of London 5,459,287 7,135,000 1,675,713
Federal – ICIP 220,000 220,000
Provincial – ICIP 183,300 183,300
Safe Restart Funding 1,427,128 1,468,900 41,772
Federal Gas Tax 2,366,000 2,366,000
Total $ 11,290,914  $ 18,019,400  $ 6,728,486

The following programs are underway through the first ten months of the year, with narrative focusing on the year-to-date progress.

Service Fleet – The replacement vehicle for the Inspector fleet was purchased and has been fully outfitted and placed into service. A van was purchased for the mobile mechanic function and has been fully outfitted with racking, lighting, etc. and is in service.

Shop Equipment – Expenditures incurred to date relate to the ongoing monthly purchase of shop tools and equipment as well as a scrubber, hoist and two tire machines. This budget is utilized throughout the year as equipment and tools are required.

Software and Hardware – Expenditures incurred to date for the purchasing of workstations and networking equipment.

Facility Upgrades – Expenditures incurred to date have been for generator upgrades (both facilities), boiler replacement (Wonderland), an updated sewer connection (Wonderland), repairs to damaged columns (Highbury), and HVAC upgrades in the server room. The roof replacement at Highbury and lighting upgrade at Wonderland is currently underway with the remainder expected to be completed by year-end.

Bus Replacements (16) – All replacement buses have arrived and are currently being outfitted for service with eight in service at the time of writing. Costs incurred to date are for ancillary equipment, inspections and all of the 16 buses.

Operator Barriers – All permanent barriers have been received and installed. The project is complete.

Smart Card Program – additional replacement routers purchased.

Administration will continue to monitor actual to budget performance and report to the Commission on a monthly basis.

Recommended by: Mike Gregor, Director of Finance

Concurred in by: Kelly S. Paleczny, General Manager